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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 264,798 $ 305,032
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 256,746 225,695
Amortization of deferred financing costs 2,144 1,918
Amortization of discounts and premiums on debt 1,311 1,267
Amortization of deferred settlements on derivative instruments 683 608
Amortization of right-of-use assets 3,189 3,231
Write-off of pursuit costs 1,321 548
(Income) loss from investments in unconsolidated entities 6,411 1,698
Distributions from unconsolidated entities – return on capital 150 159
Net (gain) loss on sales of real estate properties (154,152) (188,185)
Net (gain) loss on sales of land parcels 67  
Realized (gain) loss on investment securities 40  
Unrealized (gain) loss on investment securities   (7,061)
Compensation paid with Company Common Shares 10,370 9,469
Changes in assets and liabilities:    
(Increase) decrease in other assets 25,405 22,737
Increase (decrease) in accounts payable and accrued expenses 51,306 54,289
Increase (decrease) in accrued interest payable (23,860) (16,526)
Increase (decrease) in lease liabilities (541) (499)
Increase (decrease) in other liabilities (21,564) 7,011
Increase (decrease) in security deposits 1,701 (360)
Net cash provided by operating activities 425,525 421,031
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions   (837)
Investment in real estate – development/other (30,971) (25,491)
Capital expenditures to real estate (61,950) (73,520)
Non-real estate capital additions (935) (534)
Interest capitalized for real estate and unconsolidated entities under development (3,922) (3,150)
Proceeds from disposition of real estate, net 226,749 247,334
Investments in unconsolidated entities - development/other (32,320) (7,812)
Distributions from unconsolidated entities – return of capital 331 16
Proceeds from sale of investment securities 359  
Net cash provided by (used for) investing activities 97,341 136,006
Mortgage notes payable, net:    
Lump sum payoffs (37,940)  
Line of credit and commercial paper:    
Commercial paper proceeds 11,238,316 1,186,790
Commercial paper repayments (11,477,995) (1,370,000)
Finance ground lease principal payments (735) (719)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 942 1,644
Proceeds from exercise of EQR options 4,360 4,401
Redemption of Preference Units   (20,125)
Premium on redemption of Preference Units   (1,444)
Other financing activities, net (7) (7)
Contributions – Noncontrolling Interests – Partially Owned Properties   235
Contributions – Limited Partners 4 2
Distributions:    
OP Units – General Partner (256,401) (251,334)
Preference Units (356) (964)
OP Units – Limited Partners (8,309) (8,154)
Noncontrolling Interests – Partially Owned Properties (3,368) (2,323)
Net cash provided by (used for) financing activities (541,489) (500,472)
Net increase (decrease) in cash and cash equivalents and restricted deposits (18,623) 56,565
Cash and cash equivalents and restricted deposits, beginning of period 160,166 139,995
Cash and cash equivalents and restricted deposits, end of period 141,543 196,560
Cash and cash equivalents 39,849 44,535
Restricted deposits 101,694 152,025
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 89,541 77,149
Net cash paid (received) for income and other taxes 371 410
Amortization of deferred financing costs:    
Other assets 697 696
Mortgage notes payable, net 355 262
Notes, net 1,092 960
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 698 706
Notes, net 613 561
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (2)
Accumulated other comprehensive income 686 610
Write-off of pursuit costs:    
Investment in real estate, net 82 128
Investments in unconsolidated entities 1,151 355
Other assets 88 65
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 6,104 1,390
Other liabilities 307 308
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (555)  
Other liabilities 2,059  
Accumulated other comprehensive income (1,504) 0
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net 2,404 1,159
Investments in unconsolidated entities (1,518) (1,991)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (31,660) (7,152)
Other liabilities (660) (660)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (527)  
Lease liabilities 527  
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 16,213 4,561
Other liabilities 16,324 4,334
Paid in capital 111 (227)
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 264,798 305,032
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 256,746 225,695
Amortization of deferred financing costs 2,144 1,918
Amortization of discounts and premiums on debt 1,311 1,267
Amortization of deferred settlements on derivative instruments 683 608
Amortization of right-of-use assets 3,189 3,231
Write-off of pursuit costs 1,321 548
(Income) loss from investments in unconsolidated entities 6,411 1,698
Distributions from unconsolidated entities – return on capital 150 159
Net (gain) loss on sales of real estate properties (154,152) (188,185)
Net (gain) loss on sales of land parcels 67  
Realized (gain) loss on investment securities 40  
Unrealized (gain) loss on investment securities   (7,061)
Compensation paid with Company Common Shares 10,370 9,469
Changes in assets and liabilities:    
(Increase) decrease in other assets 25,405 22,737
Increase (decrease) in accounts payable and accrued expenses 51,306 54,289
Increase (decrease) in accrued interest payable (23,860) (16,526)
Increase (decrease) in lease liabilities (541) (499)
Increase (decrease) in other liabilities (21,564) 7,011
Increase (decrease) in security deposits 1,701 (360)
Net cash provided by operating activities 425,525 421,031
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions   (837)
Investment in real estate – development/other (30,971) (25,491)
Capital expenditures to real estate (61,950) (73,520)
Non-real estate capital additions (935) (534)
Interest capitalized for real estate and unconsolidated entities under development (3,922) (3,150)
Proceeds from disposition of real estate, net 226,749 247,334
Investments in unconsolidated entities - development/other (32,320) (7,812)
Distributions from unconsolidated entities – return of capital 331 16
Proceeds from sale of investment securities 359  
Net cash provided by (used for) investing activities 97,341 136,006
Mortgage notes payable, net:    
Lump sum payoffs (37,940)  
Line of credit and commercial paper:    
Commercial paper proceeds 11,238,316 1,186,790
Commercial paper repayments (11,477,995) (1,370,000)
Finance ground lease principal payments (735) (719)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 942 1,644
Proceeds from exercise of EQR options 4,360 4,401
OP Units repurchased and retired   (38,474)
Redemption of Preference Units   (20,125)
Premium on redemption of Preference Units   (1,444)
Other financing activities, net (7) (7)
Contributions – Noncontrolling Interests – Partially Owned Properties   235
Contributions – Limited Partners 4 2
Distributions:    
OP Units – General Partner (256,401) (251,334)
Preference Units (356) (964)
OP Units – Limited Partners (8,309) (8,154)
Noncontrolling Interests – Partially Owned Properties (3,368) (2,323)
Net cash provided by (used for) financing activities (541,489) (500,472)
Net increase (decrease) in cash and cash equivalents and restricted deposits (18,623) 56,565
Cash and cash equivalents and restricted deposits, beginning of period 160,166 139,995
Cash and cash equivalents and restricted deposits, end of period 141,543 196,560
Cash and cash equivalents 39,849 44,535
Restricted deposits 101,694 152,025
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 89,541 77,149
Net cash paid (received) for income and other taxes 371 410
Amortization of deferred financing costs:    
Other assets 697 696
Mortgage notes payable, net 355 262
Notes, net 1,092 960
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 698 706
Notes, net 613 561
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (2)
Accumulated other comprehensive income 686 610
Write-off of pursuit costs:    
Investment in real estate, net 82 128
Investments in unconsolidated entities 1,151 355
Other assets 88 65
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 6,104 1,390
Other liabilities 307 308
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (555)  
Other liabilities 2,059  
Accumulated other comprehensive income (1,504)  
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (2,404) (1,159)
Investments in unconsolidated entities (1,518) (1,991)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (31,660) (7,152)
Other liabilities (660) (660)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (527)  
Lease liabilities 527  
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 16,213 4,561
Other liabilities (16,324) (4,334)
Paid in capital $ 111 $ (227)